When you dissolve your partnership business structure you may have to comply with different or additional requirements.

There are different ways to dissolve a business partnership:

  • the partnership term as stated in the formal partnership agreement expires
  • one partner gives written notice to the other partners to exit the partnership
  • one or more partners can no longer legally own a business
  • a court issues a court order to dissolve the business
  • a partner becomes bankrupt
  • one of the partners dies
  • the business is bankrupt or insolvent

Legislation to dissolve a partnership

The formal partnership agreement will dictate the terms and conditions to dissolve a partnership

Partnership Act

If no partnership agreement is in place, state or territory legislation will guide the terms and conditions:

State and territory requirements

There may also be different legal requirements when dissolving a partnership for your individual state or territory.

Contact your state's government business authority for more information:

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